Subsidiaries - Hean Yi Holding Sdn Bhd, Malaysia

Hean Yi Holding was incorporated in 1995 and presently has an authorised capital of RM10 million and paid up share capital of RM9.3 million.

The company launched its first project, namely Taman Cheng Mutiara in Melaka in September 1999. Phase I of this project comprises 18 units of 3-storey shop-offices, 40 units of 5-storey apartments and 130 units of low cost flats.

Works on the shop-offices, apartments and low cost flats were completed in early October 2001.

Phase II of Taman Cheng Mutiara is known as Cheng Heights Resort Condominium. This phase comprises 240 units of 10-storey condominiums including a clubhouse, gymnasium and swimming pool.

Vacant possession for Cheng Heights Resort Condominium was in early December 2002.

The whole project (Phase I & II) has a total sales value of RM50 million.

Hean Yi Holding’s recent project is Klebang 8 Boutique Condominium which consists of 80 units of 23-storey high rise condominiums and 110 units of 5-storey low rise condominiums. Total sales value is estimated at RM36.35 million.

Works on this project had commenced on 1 March 2003 and is expected to be completed by January 2005.